Islington tackles buy-to-leave through planning policy
Story submitted by David Gibbens on
As of 17th July 2015, the London Borough of Islington has introduced an innovative new planning policy aimed at tackling the so-called "buy-to-leave" phenomenon. Islington's approach relies on a Supplementary Planning Document entitled "Preventing Wasted Housing Supply". This will require developers to sign a "Section 106" agreement [S106][1] aimed at ensuring that homes are occupied after they are completed: effectively the agreement cascades down to individual owners as the S106 obligations run with the land as a land charge.
